By:Reuters

Barrick Mining (ABX.TO), opens new tab has removed its Mali gold complex from its overall output forecast for 2025, four sources told Reuters, adding to fallout from a two-year dispute over new mining legislation aimed at boosting the West African country's revenue.

Operations at the Loulo-Gounkoto gold complex, one of the Canadian miner's largest gold assets in Africa, have been suspended since January after the military-led government blocked gold exports by the world's third-largest miner of the precious metal, detained staff and seized three metric tons of stock during separate negotiations over a new mining contract with Barrick.

At stake for both sides is the opportunity to realize revenues worth at least $1 billion this year due to record high gold prices . Mali risks repelling potential investors, while Barrick shares have lagged those of its peers.

The sources spoke on condition of anonymity as they were not authorized to speak publicly.

Spokespersons for Barrick did not immediately respond to a request for comment, nor did a spokesperson for Mali's Mines Ministry.

Barrick has not made its Mali output forecast public, but Morningstar analysts had predicted Mali would contribute around 250,000 ounces in 2025.

Mali's government, a shareholder in the complex, asked a domestic court in May to appoint a provisional administrator to reopen the complex, which would effectively see Barrick lose control over the mines that accounted for 14% of its total output, according to Jefferies.